The French are not alone in experiencing debt problems. Our friends, the Belgians, are also concerned by this scourge. Being registered with the Nat Bank of Belgium places dams on the redemption of credits proposed by the various financial organizations. To avoid the consequences of listing at the Nat Bank of Belgium, the purchase of mortgage loans as consumer credit can be a credible solution.
Purchase of credits in Belgium to avoid over-indebtedness
The banking ban closes a lot of doors. Here is a small list of consequences of a banking ban in Belgium:
- The different payment instruments are withdrawn (bank card like the checkbook). The citizen registered has the right only to a withdrawal card.
- The Belgian citizen will no longer be able to contract conventional loans (personal loan without proof, revolving credits, loans to finance a vehicle…).
- The Belgian citizen will no longer be able to use credit cards associated with revolving credits.
- The Belgian citizen will not be able to contract mortgages to access the property.
What are the main causes of over-indebtedness in Belgium?
The Belgian Poverty Alleviation Service has recently submitted a report. In this document, we can read the following indicators:
- The so-called adaptation debts. The Belgian citizen goes into debt with an accident of life ( divorce, dismissal, disability… ).
- The so-called survival debts. Expenses are greater than income. The citizen is no longer able to pay his bills ( energy, rent, insurance, water… ) or honor his debts with creditors.
- The so-called compensation debts. The citizen can not help buying even if he does not have the financial means ( tobacco, alcohol, compulsive purchase… ).
- Overinvestment debts. The citizen does not know how to manage his budget.
How to avoid being stuck in Nat Bank of Belgium?
Before falling into this big black hole, it is possible to find arrangements with the different creditors. For example, some creditors authorize the deferral of monthly payments. Although this is only a temporary solution, it can help you… the time to request a redemption of credits.
The redemption of credits is a reduction in monthly payments that is possible thanks to a recovery of all outstanding loans by a single creditor. The citizen has only one monthly payment to pay at a single interest rate. The duration of the repurchase of loans is variable, which makes it possible to decrease as much as possible the amount of the sum due each month for the repayment of the loan.
Just like in France, there are three types of credit redemption in Belgium:
- The first solution is to collect installment loans (the name given to consumer credit in Belgium).
- The second solution is to revisit real estate loans.
- The third solution is to combine installment loans with real estate loans (these are the purchase of mortgages or mixed mortgages).
To evaluate your repayment capacity, you can perform online simulations with different creditors. The corstiers are also at your disposal to make a personalized study and accompany you in your quest.